Civic Intelligence

Saginaw Economic Development Corporation

990 • Fiscal year 2021 • EIN 38-2028057

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 04, 2022

Organization ProfileN/A
1315 S Washington AveSaginaw, MI 48601

(989) 759-1395

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

25th percentile

0.00x

Higher debt load relative to assets than 25% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

36th percentile

0.03x

Higher debt load relative to revenue than 36% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

16th percentile

-8.4%

Higher net margin than 16% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

76th percentile

$117,666

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 36.2% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

25th percentile

-0.6%

Faster asset growth than 25% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

96th percentile

360%

Faster revenue growth than 96% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets25th percentile

Assets

Down

$2,805,099

Down $16,313 (-0.6%) from 2020

Net Assets

Down

$2,794,099

Down $27,313 (-1.0%) from 2020

Liabilities

Up

$11,000

Up $11,000 from 2020

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin16th percentile

Revenue

Up

$324,962

Up $254,373 (+360%) from 2020

Expenses

Up

$352,275

Up $122,313 (+53%) from 2020

Net Income

Up

-$27,313

Up $132,060 (+83%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2010: $1,615,616Liabilities 2010: $3,458Net Assets 2010: $1,612,1582010Assets 2011: $2,020,999Liabilities 2011: $64,000Net Assets 2011: $1,956,9992011Assets 2012: $1,886,738Liabilities 2012: $630Net Assets 2012: $1,886,1082012Assets 2013: $2,525,112Liabilities 2013: $4,562Net Assets 2013: $2,520,5502013Assets 2014: $2,595,641Liabilities 2014: $35,490Net Assets 2014: $2,560,1512014Assets 2015: $2,616,889Liabilities 2015: $10,834Net Assets 2015: $2,606,0552015Assets 2016: $2,642,358Liabilities 2016: $1,554Net Assets 2016: $2,640,8042016Assets 2017: $2,545,243Liabilities 2017: $3,615Net Assets 2017: $2,541,6282017Assets 2018: $2,956,991Liabilities 2018: $5,339Net Assets 2018: $2,951,6522018Assets 2019: $2,982,825Liabilities 2019: $2,040Net Assets 2019: $2,980,7852019Assets 2020: $2,821,412Liabilities 2020: $0Net Assets 2020: $2,821,4122020Assets 2021: $2,805,099Liabilities 2021: $11,000Net Assets 2021: $2,794,0992021Assets 2022: $2,433,156Liabilities 2022: $10Net Assets 2022: $2,433,1462022Assets 2023: $1,990,136Liabilities 2023: $964Net Assets 2023: $1,989,1722023Assets 2024: $2,450,372Liabilities 2024: $0Net Assets 2024: $2,450,3722024Assets 2025: $2,391,321Liabilities 2025: $0Net Assets 2025: $2,391,3212025

Highlighted filing

2021

Assets$2,805,099
Liabilities$11,000
Net Assets$2,794,099
Open 2021 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $199,8282010Revenue 2011: $402,025Expenses 2011: $57,184Net Income 2011: $344,8412011Expenses 2012: $143,8372012Revenue 2013: $634,442Expenses 2013: $0Net Income 2013: $634,4422013Revenue 2014: $63,223Expenses 2014: $23,622Net Income 2014: $39,6012014Revenue 2015: $90,170Expenses 2015: $44,266Net Income 2015: $45,9042015Revenue 2016: $68,511Expenses 2016: $33,762Net Income 2016: $34,7492016Revenue 2017: $65,473Expenses 2017: $164,649Net Income 2017: -$99,1762017Revenue 2018: $425,073Expenses 2018: $15,049Net Income 2018: $410,0242018Revenue 2019: $126,369Expenses 2019: $97,236Net Income 2019: $29,1332019Revenue 2020: $70,589Expenses 2020: $229,962Net Income 2020: -$159,3732020Revenue 2021: $324,962Expenses 2021: $352,275Net Income 2021: -$27,3132021Revenue 2022: $95,290Expenses 2022: $456,243Net Income 2022: -$360,9532022Revenue 2023: $47,905Expenses 2023: $491,879Net Income 2023: -$443,9742023Revenue 2024: $680,139Expenses 2024: $218,939Net Income 2024: $461,2002024Revenue 2025: $306,125Expenses 2025: $365,176Net Income 2025: -$59,0512025

Highlighted filing

2021

Revenue$324,962
Expenses$352,275
Net Income-$27,313
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 4, 2022
Return Version
2020v4.0
Gross Receipts
$324,962
Mission and Program Overview

Mission

To create and retain jobs and to expand and diversify the economic base of the City of Saginaw.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,664,085$1,499,073▼ $165,012
Savings and Temporary Cash Investments$1,157,327$1,295,026▲ $137,699
Accounts Receivable-$11,000-
Total Assets$2,821,412$2,805,099▼ $16,313
Liabilities
Accounts Payable and Accrued Expenses-$11,000-
Total Liabilities$0$11,000▲ $11,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,821,412$2,794,099▼ $27,313
Total Net Assets Fund Balance$2,821,412$2,794,099▼ $27,313
Total Liabilities and Net Assets / Fund Balance$2,821,412$2,805,099▼ $16,313
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleOtherTotal
Yolanda JonesOmb Director$117,666$117,666
Kisha SmithEcon Dev COO$64,829$64,829

Board Members and Trustees

NameTitle
Scot PutzigPresident
Ana HidalgoDirector
James GrahamDirector
Jamie ForbesDirector
Kevin AlbostaDirector
Kevin RookerDirector
Michael HanleyDirector
Monica RozekDirector
Tayvell RichmondDirector
Tom Miller JrDirector
Richard SpitzerSecretary
Christopher SheridanTreasurer
Autumn ScherzerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$259,500
Program Service Revenue
$65,462
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-27,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$352,275
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$30,641--$30,641
Fees for Services Other$103--$103
Office Expenses$-47--$-47
Total Functional Expenses$352,275$0$0$352,275
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The omb director reviews the form 990 before it is filed.”

Form 990, Page 6, Part VI, Line 15A

“Omb director salary is set by the city of saginaw.”

Form 990, Page 6, Part VI, Line 19

“Documents and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Saginaw Economic Development
EIN
38-2028057
Phone
9897591395
Address
1315 S WASHINGTON AVE, SAGINAW, MI 48601

Signing Officer

Name
Yolanda Jones
Title
Omb Director
Phone
9897591395
Signed
2022-01-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yolanda Jones
Formed
1974
Legal Domicile
Mi
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Yeo & Yeo Pc
Address
PO BOX 3275, SAGINAW, MI 48605
Preparer
Jamie Rivette
Phone
9897939830
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE OMB DIRECTOR REVIEWS THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OMB DIRECTOR SALARY IS SET BY THE CITY OF SAGINAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2CITY OF SA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine2Txt0CITY OF SAGINAW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine2Txt1CITY OF SAGINAW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine2Txt2CITY OF SAGINAW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CITY OF SAGINAW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1DOWNTOWN DEVELOPMENT AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2LOCAL DEVELOPMENT FINANCE AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3BROWNFIELD REDEVELOPMENT AUTHORITY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2MI
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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,805,099
Liabilities
$11,000
Net assets
$2,794,099
Revenue
$324,962
Expenses
$352,275
Net income
-$27,313
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.39$0.00$2.39$0.31$0.37$0.06
2024Detailed filing. Detailed filing data is available for this year.$2.45$0.00$2.45$0.68$0.22$0.46
2023Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$0.05$0.49$0.44
2022Detailed filing. Detailed filing data is available for this year.$2.43$0.00$2.43$0.10$0.46$0.36
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.01$2.79$0.32$0.35$0.03
2020Detailed filing. Detailed filing data is available for this year.$2.82$0.00$2.82$0.07$0.23$0.16
2019Detailed filing. Detailed filing data is available for this year.$2.98$0.00$2.98$0.13$0.10$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.96$0.01$2.95$0.43$0.02$0.41
2017Detailed filing. Detailed filing data is available for this year.$2.55$0.00$2.54$0.07$0.16$0.10
2016Detailed filing. Detailed filing data is available for this year.$2.64$0.00$2.64$0.07$0.03$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.62$0.01$2.61$0.09$0.04$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.60$0.04$2.56$0.06$0.02$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.53$0.00$2.52$0.63$0.00$0.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.89$0.00$1.89$0.14
2011Summary only. Only limited summary data is available for this year.$2.02$0.06$1.96$0.40$0.06$0.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$0.00$1.61$0.20